DAX 30 long upward trend, with a medium term trend correction and corrective effect in short-term upward movement of the mid-term correction. As we said yesterday, we observe probable end of wave B – ABC corrective formation of the trend. Neutralization of this formation happens only f the price passes above 9874.
This is why we will wait for the index to decrease in the purchasing area. It is still dangerous to enter at the current levels.
Of Course, the purchasing area is determined for long-term and medium-term positions on the Daily chart. The zone is defined on the diagonal support of the trend, following a corrective ABC formation.
The index reached a level of support – the internal bar breach, which gives us the appropriate to place long positions with a stop below 9704.
For long term traders, the current levels are still at risk for Long, because it can follow the corrective wave to the area of considerable support on 9614. 5. Currently on the market we see strong speculative movements to be accumulated, which will lead to sudden changes in the direction of the index.The expansion of the conflict with the fallen aircraft will most likely reflects on the market sentiment today. So we must seek an entry point, if there is a new dump in the indexes.